On Wednesday, HSBC maintained its "hold" recommendation on Stellantis shares, with an unchanged target price of €9, following the official appointment of Antonio Filosa as the automotive group's new CEO.
In a note to its clients, the broker pointed out that Filosa, a long-standing executive who joined the manufacturer 25 years ago, having been widely tipped to take up the position since December 2024, alongside Maxime Picat, the former head of Peugeot, thus succeeding Carlos Tavares.
In its view, his appointment should therefore not come as a major surprise to the markets.
"Filosa has a comprehensive profile for this position," the broker commented. "He has in-depth knowledge of the automotive industry and solid operational experience in key regions such as Europe and the Americas," it added.
Originally from Naples, Filosa is familiar with the European market, HSBC says, but he currently resides in Detroit, an area that the broker considers a priority for the group's operational recovery.
The professional also points out that he spent part of his career in South America, the group's third largest market in terms of profits.
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Stellantis N.V. is one of the world's leading car manufacturers. The activity is essentially organized around 4 sectors:
- sales of passenger cars and light commercial vehicles: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys brands;
- sale of luxury vehicles: Maserati and DS Automobiles brands;
- sale of automotive equipment: interior systems, car seats, car exteriors, emission control systems, etc.;
- other: financing services (purchase, rental, leasing, etc.), after-sales services, etc.
Net sales are distributed geographically as follows: the Netherlands (0.8%), North America (41.6%), France (10.3%), Brazil (7.6%), Italy (6.8%), Germany (5.2%), the United Kingdom (5%), Türkiye (3.8%), Spain (2.7%), Belgium (1.5%), China (0.2%) and other (14.5%).
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Investor
Investor
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